How living standards impact the CBI Index
The value of Citizenship by Investment (CBI) can be priceless. Families care about finding an alternative citizenship that will grant opportunities for their children to have a better life; this often matters to discerning investors just as much as competitive investment thresholds.
From life expectancy to education, human security to freedom; much goes into the choice to leave versus the choice to stay. A viable ‘Plan B’ can change a family’s life trajectory and help future generations, which is why the 2024 CBI Index puts Standard of Living as its first pillar of analysis.
Countries in Europe and the Caribbean offer the strongest living standards, with the Commonwealth of Dominica receiving its best Standard of Living pillar score since the first CBI Index was released in 2017.
Let’s explore how the 2024 CBI Index features the Standard of Living in its data and rankings, while understanding the factors which made countries score higher — or lower — than ever.
How Standard of Living features as a CBI Index pillar
The CBI Index approaches CBI programmes through the lens of nine factors, denoted as ‘pillars,’ to evaluate programme features and desirability of different jurisdictions. Each year, the Index uses these pillars to rank the performance and appeal of CBI programmes across a diverse range of indicators and measures.
The first pillar that the CBI Index utilises to rank CBI programmes is the Standard of Living pillar.
The pillar utilises UN Human Development Index (HDI) data to inform its pillar rankings. The UN HDI considers factors including life expectancy, safety, income and education. The pillar also considers economic data from the World Bank along with data on freedoms and liberties from Freedom House’s Freedom in the World Index.
As the CBI Index writes:
‘The Standard of Living Pillar measures the level of wealth, comfort, and material goods offered by the twelve CBI jurisdictions under assessment.’
‘This pillar is vital to those who yearn to relocate and to secure a prosperous and fulfilling lifestyle, as well as for those wanting to take advantage of local business opportunities or seeking additional geographical diversification for their assets,’ the Index adds.
Best and worst countries for Standard of Living
Malta took the highest CBI Index ranking for Standard of Living, buoyed by its high Life Expectancy and Freedom rankings. The country also scored highly for its safe and secure society.
Austria followed on Malta’s heels, with the country boasting the highest Gross National Income (GNI) of all CBI countries along with high scores in safety, freedom and life expectancy.
Caribbean countries tied for the third place ranking for Standard of Living, with Dominica standing out as receiving its highest Standard of Living score since the first CBI Index was released in 2017.
Joining Dominica in third place were Grenada, Antigua and Barbuda, St. Kitts and Nevis and the Mediterranean country of Türkiye.
The CBI Index wrote:
‘The small Caribbean nations perform strongly in providing both Freedom and GDP [Gross Domestic Product] Growth.’
The countries which took the lowest spots — Jordan, Cambodia, Saint Lucia, and Egypt — still received five points for Standard of Living. This indicates that none of the 12 CBI countries have poor living standards.
Saint Lucia, for example, received high marks for its free press and media, but was brought down by lower scores in other categories.
Opportunities created by high living standards
CBI can revolutionise life outcomes for economic citizens and their families.
The 2024 CBI Index features Standard of Living as its first pillar informing its analysis, to showcase how living standards deeply impact the choices that economic citizens face.
With strong showings for the European and Caribbean countries, including Dominica’s highest showing yet, the Index is a critical tool for high-net-worth individuals looking for the most liveable CBI countries for themselves and their families.
